What is Scott Storch's net worth?
Scott Storch is an American hip-hop music producer who has a net worth of $250,000. Although he shot to stardom after becoming the keyboardist for the Roots, Scott Storch is also an accomplished record producer and songwriter.
At the peak of his career, Storch's net worth topped $100 million. Scott Storch squandered his fortune on cocaine and an extremely lavish lifestyle that included private jets, jewelry, a $20 million yacht, a $10.5 million Miami mansion, dozens of cars, and expensive celebrity girlfriends like Paris Hilton. He reportedly burned through $30 million in six months alone. In recent years, he has struggled with financial issues, child support legal battles, repossessions, and bankruptcy filings.
Early Life
Scott Spencer Storch was born on December 16th, 1973, in Long Island, New York. During his youth, Scott Storch's family moved from place to place, settling in Miami and Philadelphia for extended periods. His mother was a singer, and his uncle was also involved in the music world. These family members introduced Scott Storch to music at a young age.
Although Storch initially attended high school in Florida, he left during his freshman year to attend high school and live with his father in Pennsylvania. He then dropped out of high school in grade nine, prompting his father to kick him out of his home. By 18, Storch was once again living with his father in New Jersey.
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Career
Scott Storch started his career in 1991 when he became the keyboardist for the newly created band Roots. Over the next few years, Storch became a well-known musician as he contributed to Roots albums such as Organix and Do You Want More?!!!?! Although he was passionate about music, he quickly grew tired of the band's relentless touring schedule. Due to the fact that he naturally felt at home in the studio, a career in music production was the obvious next step for Scott Storch.
Scott Storch quickly became one of the most successful producers in the music world after working with some of the top names in the industry. He initially produced hits by the Roots, such as "You Got Me." He then produced Dr. D.R.E's smash hit "Still D.R.E." The hit featured Scott Storch on the piano, providing the catchy soul of the iconic rap single.
"Still D.R.E" opened the door for Storch to collaborate with the hottest names in the hip-hop game, including 50 Cent, Chris Brown, Snoop Dogg, and many others. Financially, his biggest hit was with Fat Joe's Terror Squad when he produced the song "Lean Back." During this time, Storch also proved his worth as a songwriter, winning the 2006 ASCAP Songwriter of the Year Award.
Scott Storch also found the time to create his own record label, Storch Music Company, and a music production company called Tuff Jew Productions LLC. Although Scott Scorch's career faltered after his following period of heavy drug use and financial issues, he has since become involved in music production once again.
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Financial Problems
In 2006, Scott Storch reached a stratospheric level of success with a net worth of $70 million. However, his unrelenting addiction to cocaine would prove to be a deciding factor in his eventual downfall. During the next period, Storch completely stopped working and focused on partying as a full-time job. He purchased a $10 million mansion on Palm Island as a permanent venue for this new lifestyle. While high on cocaine, Storch squandered millions on sports cars, yachts, and private jets. After six months had passed, Storch had spent a whopping $30 million.
By 2008, Storch was unable to keep up with child support payments and property taxes. He also fell behind on payments for car leases, leading to his eventual arrest for Grand Theft Auto. Eventually, he did the right thing and checked into a rehab center. Storch's $10.5 million Palm Island mansion was repossessed by a bank and sold to Rockstar energy drink founder Russell Weiner for $6.75 million in 2010. In October 2012, Weiner flipped the house to rapper Birdman for $14.5 million.
In June 2015, Scott filed for bankruptcy. In the filing, he claimed to only have $3,600 in assets which was made up of $100 in cash, $500 worth of clothing, and a $3000 watch. He valued his music company and assets at $0. In the filing, Scott said that he made just $10,000 in 2014. All of this explains why Storch's net worth is so low despite the fact that he is one of the most successful music producers in the history of hip-hop.
